ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares gapped up before the market opened on Tuesday . The stock had previously closed at $36.42, but opened at $37.87. ProShares UltraPro Short QQQ shares last traded at $37.9760, with a volume of 12,440,667 shares changing hands.

ProShares UltraPro Short QQQ Trading Up 4.3%

The stock has a fifty day moving average of $39.99 and a 200 day moving average of $54.17.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 104.0% in the 1st quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after buying an additional 415 shares during the last quarter. Larson Financial Group LLC purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth about $29,000. Osaic Holdings Inc. raised its position in ProShares UltraPro Short QQQ by 47.2% in the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after acquiring an additional 696 shares during the period. Sunbelt Securities Inc. bought a new stake in ProShares UltraPro Short QQQ in the fourth quarter worth about $137,000. Finally, Quantinno Capital Management LP purchased a new position in ProShares UltraPro Short QQQ in the first quarter valued at about $201,000.

About ProShares UltraPro Short QQQ

ProShares UltraPro Short QQQ (the Fund) seeks daily investment results, which corresponds to three times the inverse of the daily performance of the NASDAQ-100 Index (the Index). The Index includes 100 of the non-financial domestic and international issues listed on National Association of Securities Dealers Automated Quotation (NASDAQ) Stock Market. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.